Ramsdens (RFX) Trading update summary

Financial performance and guidance

• FY25 profit before tax expected to be at least £13m, surpassing previous analyst expectations of £12m and FY24's £11.4m.

• Growth driven by strong performance across core income streams and high gold prices.

Segment highlights

• Precious metals segment gross profit up 50% on H1 2024, aided by high gold prices and a 5% increase in gold purchased; new gold buying website launched in March 2025.

• Pawnbroking gross profit rose 10% year-on-year, supported by a new dedicated website launched in November 2024.

• Jewellery retail gross profit increased 15% in H1, exceeding expectations despite scrapping aged stock.

• Foreign currency gross profit stable year-on-year; multi-currency card and international money transfer service performing well.

Operational developments

• Store estate remains at 169, with new stores opened in Grantham and Burton, and some consolidation in Glasgow.

• Investments in digital platforms and new services are attracting new customers across segments.